4.1- International Economics- A level Economics Edexcel Exam Questions
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Course
Unit 4 - A global perspective
Institution
PEARSON (PEARSON)
Memorsing content can only take you so far, so use exam questions effectively to prepare yourself for the actual exam. This document will help you do so, it contains a mix of exam style questions with extract/sources just like the real exam. The marks are for AS level but you can just as easily use...
4.1 Balance of Payments,
Exchange Rates and
Competitiveness
(Edition 1)
Time: 60 minutes
Maximum marks: 50
Name
Centre Name
, Edexcel A Level Economics (A)
Unit Assessment - 4.1 Trade Part 2: Balance of Payments,
Exchange Rates and Competitiveness
Section A
ANSWER ALL THE QUESTIONS
1a In 2016, the UK had a deficit on the balance of trade in goods of £135.495bn, a surplus on the
balance of trade in goods of £94.818, a total primary income balance of -£50.384bn and a total
secondary income balance of -£22.506bn.
What was the Current Account balance for the UK in 2016?
A Deficit of £208.385bn o
B Deficit of £113.567bn o
C Surplus of £40.677bn o
D Deficit of £40.677bn o
(1 mark)
1b List two possible causes of a ‘trade in goods’ deficit.
(2 marks)
1c Explain the link between Price Elasticity of Demand and the Trade Balance, with reference to the
Marshall-Lerner condition.
(3 marks)
Page 2 Edexcel A Level Economics (A) Unit Assessment www.tutor2u.net/economics
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